Gross Non-Performing Assets of PSU banks touch over 6 lakh crores

November 29, 2016

The government has said that the Gross Non-Performing Assets (NPA) of public sector banks as of September 2016 has touched nearly six lakh thirty thousand crore rupees. The total number of NPA accounts in the country is around 66 lakh 40 thousand. To tackle the menace of NPAs, the...

RBI proposes ‘Islamic Window’ in Banks

November 21, 2016

The Reserve Bank of India (RBI) has come up with a proposal for opening of ‘Islamic window’ in conventional banks for a gradual introduction of Sharia-compliant (interest-free) banking in the country. The move is aimed to ensure financial inclusion of some sections of society that remains excluded due to...

Ujjivan Small Finance Bank receives final license from RBI

November 15, 2016

Ujjivan Small Finance Bank Ltd, a subsidiary of Ujjivan Financial Services Ltd has received the final licence from Reserve Bank of India (RBI) to commence its banking operations. With this, the Ujjivan Small Finance Bank became the fourth entity to receive the final licence from RBI after the Capital...